Overview
- Paradigm, which multiple outlets reported Wednesday is developing a terminal for markets where people trade on outcomes like elections or sports, is targeting professional traders and market makers.
- Partner Arjun Balaji is leading the effort that sources say began in late 2025, and the firm declined to comment on the reports.
- Paradigm has started pulling market data into a public dashboard that serves as groundwork for a pro trading screen.
- The firm is weighing an in‑house market‑making desk to supply liquidity and is exploring index products that bundle many event contracts into one tradable product.
- The push comes after March reports that Kalshi, a regulated venue backed by Paradigm, reached about a $22 billion valuation as prediction‑market activity accelerated.